Page:United States Statutes at Large Volume 81.djvu/194

 160

PUBLIC LAW 90-59-JULY 31, 1967

day" and inserting in lieu thereof "within 30 days after the day of purchase". (2) Section 4919(b)(3) is amended— (A) by striking out in subparagraph (A) (ii) "on the day of purchase or the next business day" and inserting in lieu thereof "within 30 days after the day of purchase"; (B) by striking out in the sentence following subparagraph (A) (ii) "on the day on which it was purchased or the next business day" and inserting in lieu thereof "within 30 days after the day of purchase"; (C) by striking out "or" at the end of subparagraph (B)(i); (D) by striking out "or debt obligation" in subparagraph (B) (ii) and by adding "or" at the end of such subparagraph; (E) by adding after subparagraph (B) (ii) the following: "(iii) purchased a debt obligation which he resold within 30 days after the day of purchase to a person other than a United States person,"; and (F) by striking out in the matter following subparagraph (B) (iii) (as added by subparagraph (E) of this paragraph) "on the day of purchase or the next business day" and by inserting before the period at the end of subparagraph (B) the following: "on the day of purchase or the next business day in the case of stock, or within 30 days after the day of purchase in the case of a debt obligation". (3) The amendments made by this subsection shall apply only with respect to an acquisition by a dealer of a debt obligation which is resold by such dealer to another dealer (whether such acquisition by the former dealer occurs before or after such resale) after January 25, 1967.

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(j)

78 Stat. 836.

[81 STAT.

FOREIGN LENDING AND FINANCE BUSINESSES.—

(1) Section 4920(a)(3) is amended hj striking out the period at the end of subparagraph (B) and inserting in lieu thereof "; or", and by adding after subparagraph (B) the following new subparagraph: " (C) a domestic corporation which together with its subsidiaries (if any) — " (i) is primarily engaged in the lending or finance business through offices located outside the United States, and "(ii) holds itself out, in the course of such business outside the United States, as lending money to the public generally, and which elects to be treated as a foreign issuer or obligor for purposes of this chapter. The election under the preceding sentence shall be made on or before the 60th day after the date of the enactment of this subparagraph or the 60th day after the organization of the corporation, whichever is later, under regulations prescribed by the Secretary or his delegate. Any such election shall be effective as of January 26, 1967, or the date of the organization of the corporation, whichever is later, and shall remain in effect until revoked. If, at the close of any succeeding calendar quarter, the corporation ceases to meet the requirement of clause (i) or clause (ii), the election shall thereupon (with respect to quarters after such

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